Wells Fargo's most recent trend suggests a bullish bias. One trading opportunity on Wells Fargo is a Bull Put Spread using a strike $52.50 short put and a strike $47.50 long put offers a potential 10.13% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $52.50 by expiration. The full premium credit of $0.46 would be kept by the premium seller. The risk of $4.54 would be incurred if the stock dropped below the $47.50 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Wells Fargo is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Wells Fargo is bullish.
The RSI indicator is above 80 which suggests that the stock is in overbought territory.
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LATEST NEWS for Wells Fargo
Big U.S. banks see higher expenses from workers' rising wages
Wed, 19 Jan 2022 06:08:16 +0000
Big U.S. banks will spend more on salaries and benefits this year, as inflationary pressures, pandemic risks and the tight labor market force them to raise wages to get and keep workers. The nation's six biggest banks – JPMorgan Chase & Co, Bank of America, Citigroup, Wells Fargo & Co, Morgan Stanley and Goldman Sachs Group Inc – have taken steps to raise some workers' wages in 2021 and several raised expense projections for the coming year. “We are seeing certainly fierce competition in the war for talent, and that's playing out in wage inflation,” Emily Portney, chief financial officer for Bank of New York Mellon Corp, told Reuters in an interview after reporting fourth-quarter earnings on Tuesday.
UPDATE 1-Wells Fargo names Derek Flowers as new chief risk officer
Tue, 18 Jan 2022 21:47:56 +0000
Wells Fargo & Co named Derek Flowers as its new chief risk officer, leading all aspects of the lender's risk management systems, the bank said in a statement on Tuesday. Flowers replaces Mandy Norton https://www.reuters.com/markets/us/wells-fargos-chief-risk-officer-leave-bloomberg-news-2022-01-04, who served as the bank's chief risk officer since 2018 and is planning to retire in June. He takes the job as the bank continues to work on what Chief Executive Charlie Scharf recently called a “multi-year effort to satisfy” regulatory requirements.
This stock market correction ‘is not over yet,’ strategist says
Tue, 18 Jan 2022 21:36:21 +0000
Bill Baruch, Blue Line Futures President, and Jason Ware, Albion Financial Group Partner and Chief Investment Officer, join Yahoo Finance Live to discuss market lows, the Fed, the financial and bank sectors, and investing opportunities amid high volatility periods.
Wells Fargo names Derek Flowers as new chief risk officer
Tue, 18 Jan 2022 21:31:04 +0000
Wells Fargo & Co named Derek Flowers as its new chief risk officer, leading all aspects of the lender's risk management systems, the bank said in a statement on Tuesday. Flowers replaces Mandy Norton, who served as the bank's chief risk officer since 2018 and is planning to retire in June. He takes the job as the bank continues to work on what Chief Executive Charlie Scharf recently called a “multi-year effort to satisfy” regulatory requirements.
Derek Flowers named Wells Fargo’s Chief Risk Officer
Tue, 18 Jan 2022 21:12:00 +0000
SAN FRANCISCO, January 18, 2022–Derek Flowers named Wells Fargo’s Chief Risk Officer
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